Stock Splits

Under Armour announced a two-for-one stock split Monday of its outstanding common stock.

Shares of the Baltimore-based sports apparel and footwear maker have skyrocketed, climbing nearly 35 percent this year to $117.35 Friday. Shares were trading up nearly 2.5 percent Monday morning.

"Our team is proud of the value we have delivered to our stockholders over the long-term, and we believe this stock split may broaden our investor base and improve the trading liquidity of our stock," CEO and Chairman Kevin Plank said in the announcement.

Companies typically use stock splits to lower the price of a high-priced stock and attract investors.

Related "Stock Splits" Articles

Under Armour announced a two-for-one stock split Monday of its outstanding common stock.
Shares of the Baltimore-based sports apparel and footwear maker have skyrocketed, climbing nearly 35 percent this year to $117.35 Friday. Shares were trading up...

Baltimore-based Under Armour Inc. approved a two-for-one split of its outstanding common stock, the first since the sports apparel maker went public in November 2005, the company said Monday.Shares of Under Armour have climbed 65 percent in a one-year...